Westchester Capital Management Inc. Has $10.26 Million Position in Johnson & Johnson (NYSE:JNJ)

Westchester Capital Management Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 63,326 shares of the company’s stock after selling 263 shares during the period. Johnson & Johnson makes up 2.5% of Westchester Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Westchester Capital Management Inc.’s holdings in Johnson & Johnson were worth $10,263,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after acquiring an additional 754,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Johnson & Johnson by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after acquiring an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after acquiring an additional 437,637 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.47 on Friday. The stock has a 50-day moving average of $162.61 and a 200-day moving average of $155.81. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The stock has a market cap of $374.31 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the firm posted $2.66 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Citigroup boosted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $175.00.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.